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Cash for Clunkers: Obama and Congress Make a Deal

Posted in auto industry, Car Buying, Collector Cars, Newsworthy, Old Cars by Alex Kierstein | May 7th, 2009 | Leave a Reply |


Say it ain’t so! The news wire is jumping with reports that Obama has reached a deal with lawmakers from his own party to put “Cash for Clunkers” into effect. From the limited details, it seems like the plan is to have the program run for one year, giving clunker owners up to $4500 in vouchers to trade up for a new car. Theoretically, it could lead to a million new car sales, if you buy the numbers proponents are throwing out there.

Of course, many enthusiasts (SEMA, the Specialty Equipment Manufacturers’ Association, is especially vocal) fear that the “Cash for Clunkers” program will lead to a spate of restorable cars being crushed and thus forever lost to posterity. Makes you wonder if the famous barn-find Bugatti above would have qualified for a $4500 voucher too.

[Source: Reuters. Image: Autoblog]

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